Clarin Group from Argentina presented its financial statement for the first quarter of 2016 in which it reported revenues of its telecommunications company Cablevision for USD 480 million, representing a growth of 55% (in local currency) compared to the same period of 2015, driven partly by the purchase of mobile operator Nextel.
Cablevision, the largest Pay-TV and broadband operator in that country, had an EBITDA of USD 189 million, i.e. 48% more year-over-year. In addition, it reached a total of 3.5 million Cable TV subscribers, 1.6 million of these with digital technology, and 7.8 million homes passed. Revenues of this company represent 96.3% of the group’s capex.
On the other hand, the Clarin Group recorded sales of USD 48 million (+28%) for El Trece, the nationwide Free-to-Air channel, and its other Pay-TV signals, plus an EBITDA of USD 5 million (+77%) for this division. The multimedia group had total revenues of USD 611 million (+51%), EBITDA of USD 193 million (+47%) and earnings of USD 75 million (+39%).
In April, Cablevision was authorized by the National Communications Entity (Enacom) to add fixed and public telephony services to its portfolio. It also agreed to the incorporation and fusion of internet services brand Fibertel.